Paytm continues board revamp, appoints Alibaba exec as Additional Director

Paytm also added Amit Singhal from Google and Mark Schwartz, ex-Goldman Sachs, in the last week

Paytm, the Indian mobile payment giant, announced today it has added K. Guru Gowrappan to its board as an Additional Director. He is is currently Global Managing Director of Alibaba Group.

Paytm is in the middle of revitalising its board, having appointed three new members in the last week. Besides Gowrappan, the other additions were Amit Singhal, Google’s Senior Vice President and Mark Schwartz the former Vice-chairman at Goldman Sachs.

Also Read: Mark Schwartz who played a major role in Alibaba’s US$25 billion IPO joins Paytm’s Board

Alibaba (and its fintech subsidiary company Ant Financial) is a major investor in Paytm, having led a US$680 million investment in the company in September 2015.

At Paytm, the plan is to have Gowrappan routinely check-in with the business, product and tech teams to ensure the scalability and growth of the company.

“It’s both exciting and fulfilling to be trusted with the opportunity to mentor the incredible team at Paytm as the company moves into the next chapter of its growth,” said Gowrappan in a statement.

Also Read: Alibaba-backed Paytm in talks to raise US$350M from Temasek, GIC, others: Reports

At Alibaba, Gowrappan is in charge of international product development and business strategy. This means bringing the various Alibaba products into once cohesive plan and then executing it across the world.

Paytm says it has about 140 million users currently and is targetting 500 million as its target metric.

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